Shared by:
ivanka_BOWS
GENE had a nice run in the morning, pull back and consolidation with a very low volume and a breakout on volume increase, I traded GENE all day short and long. Most of the setups worked! Yeah.
Execution detail:
Comments
BenLbTrading
Good trade. The only thing that confuses me is that cluster of buying and selling around noon that looks kind of all over the place.
ivanka_BOWS
Ben - I know it looks confusing even to me The thing is I knew GENE was going to move one way or another and I was betting short and long with tight stops. So if I saw a long signal I would enter, and then if it went against me a few cents I would exit. Then again, and again, and again...So ended up with 42 executions on GENE alone today just because of the noon cycle.
I got worried a little bit why I had to re-enter so many times.That's my fear of losing in full swing today..:) basically, my strategy was to cut losers quickly and re-enter if another opportunity arises. Not sure if this is the right way to go, or am the only one trading like this??
is this what they call scalping?
Hey Ivanka. That's not really scalping, what it sounds like you were doing was just being a little indecisive and the lunch hour chop is probably the worst time to be doing this kind of play because you'll get eaten up by commissions even with a low per share price.
Thanks Ben, yes you are right, I am taking off during lunch time and calm down my emotions for the afternoon session. That may help with cutting on too many executions.
I'm guilty of that too and I find if I'm that indecisive about a position just to leave it alone and move on to something the looks a bit more clear or makes more sense.
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
Nice job getting and right before that breakout around 1100 n nice job scaling out!